Biden Announces $3B Domestic EV Battery Manufacturing Plan
May 3, 2022—The Biden Administration has announced a $3.1 billion strategy set on boosting the domestic manufacturing efforts of electric vehicle batteries.
According to CNBC, the Department of Energy says that this money will go toward establishing grants that will build, retool or expand the manufacturing of batteries as well as their many components. Additionally, the funds will help in establishing battery recycling facilities.
The funding comes from President Biden's $1 trillion bipartisan infrastructure law.
“Positioning the United States front and center in meeting the growing demand for advanced batteries is how we boost our competitiveness and electrify our transportation system,” U.S. Secretary of Energy Jennifer M. Granholm says in a statement, according to CNBC.
The White House has a goal of half of the automobile sales in the country being made up of electric vehicles by 2030. The United States is currently the world's third-largest market for EVs, sitting behind China and Europe.
